State-owned refiner Recope wants Costa Rica to boost use of natural gas as an energy source and reduce its dependence on liquid hydrocarbons, a switch that would require an investment of $181.2 million.

Recope recommended the use of the cleaner-burning fuel after obtaining the results of the study “Perspectives on the Potential Use of Natural Gas in Costa Rica,” conducted by Canadian consulting firms SNC-Lavalin and Enerchem Tek.

The report also calls for Recope, which has a monopoly on fuel importing and distribution in Costa Rica, to become a bulk natural gas distributor.

According to a Recope statement, the study concluded that natural gas use will bring the Central American country a raft of economic and environmental benefits.

“Liquefied natural gas is becoming an increasingly important energy source and, since large-scale investments are being carried out worldwide in terms of both liquefaction and regasification capacity, its importance will continue to grow,” the report said.

To mass distribute natural gas in Costa Rica, Recope plans to build an LNG import and regasification terminal in the Caribbean region featuring port and unloading facilities, storage tanks, vaporizers and transfer pumps.

The goal is to begin using natural gas in 2015 and for investment in the fuel to be carried out in stages through 2026. The program calls for Recope to invest $100 million in the first year, $25.6 million in 2019 and $55.6 million in 2026.

According to the report, the transportation, thermoelectric power and industrial sectors will benefit the most from the introduction of natural gas.

The government must now study and discuss Recope’s proposal and decide whether or not to move forward with the project.

Source: LAHT.com